• 3 minutes Looming European Gas Crisis in Winter and North African Factor - a must read by Cyril Widdershoven
  • 7 minutes "Biden Targets Another US Pipeline For Shutdown After 'Begging' Saudis For More Oil" - Zero Hedge Monday Nov 8th
  • 12 minutes "UN-Backed Banker Alliance Announces “Green” Plan to Transform the Global Financial System" by Whitney Webb
  • 8 hours Microbes can provide sustainable hydrocarbons for the petrochemical industry
  • 13 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 hours CO2 Electrolysis to CO (Carbon Monoxide) and then to Graphite
  • 11 hours Hunter Biden Helped China Gain Control of Cobalt Mines in Africa
  • 4 days Is anything ever sold at break-even ? There is a 100% markup on lipstick but Kuwait can't break-even.
  • 5 days Building A $2 Billion Subsea Solar Power Cable From Chile To China
  • 11 hours NordStream2
  • 4 days Modest drop in oil price: SPRs vs US crude inventory build
  • 4 days 2019 - Attack on Saudi Oil Facilities.
  • 4 days Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 58 mins "Gold Set To Soar As Inflation Fears Mount" by Alex Kimani
  • 6 days Ukrainian Maidan after 8 years
  • 6 days Peak oil - demand vs production
Editorial Dept

Editorial Dept

More Info

Oil Prices Set To Rise In 2017 On Balancing Markets

Friday December 23, 2016

In the latest edition of the Numbers Report, we’ll take a look at some of the most interesting figures put out this week in the energy sector. Each week we’ll dig into some data and provide a bit of explanation on what drives the numbers.

Let’s take a look.

1. Dollar rally at a turning point?

(Click to enlarge)

- The U.S. dollar has rallied to its strongest level in more than a decade in recent weeks, as the uncertainty surrounding the presidential election disappeared and the Federal Reserve hiked interest rates. The Fed also suggested that the strong labor market could warrant further rate tightening in the quarters ahead.
- At the same time, economic weakness, political uncertainty, and a spate of terrorist attacks in Europe are all weighing on the euro.
- The strong dollar is putting downward pressure on crude oil prices, making oil more expensive for much of the world and thereby pushing down demand. The dollar is offsetting strength in the oil market stemming from the OPEC deal.
- The dollar rally came to a halt in mid-December, reversing somewhat.
- The big question mark will be U.S. policy in the Trump administration. Businesses are confident about prospective tax cuts, but excessive spending could fuel inflation.

2. China’s LNG imports spike

(Click to enlarge)

- China imported a record level of LNG in November – 2.66 million tonnes –…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News